Northern Trust Morningstar US Market Factor Tilt ETF
$280.93−1.70 (−0.60%)
- Expense ratio
- 0.26%
- Fund size
- $2.2B
- 1Y return
- +17.7%
- Yield · Last 12 months
- 1.06%
- Holdings
- 1917
- Volume · 30D
- 0M sh
- NAV per share
- $282.39
- 52W range
The ETF.net TILT Grade
Score 72 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.BScore 65Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 100Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 60Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 65Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.BScore 58Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 74Category rank
Our read on TILT
AMost factor funds cut the market down to a few hundred names. TILT keeps nearly all of it, roughly 1,900 US stocks, and just leans the weights toward small-cap and value. A total-market core with a thumb on the scale, running since 2011.
The Fund seeks results that generally correspond, before fees and expenses, to the price and yield performance of the Morningstar U.S. Market Factor Tilt Index.
Why people hold it
- The tilt sits on top of the whole market, not a slice of it: the index covers the stocks making up the top 99.5% of US market cap, then overweights small-cap and value names versus a plain cap-weighted portfolio.flexshares.comsec.gov
- Cheap for the category: 0.26% a year, under the median US multifactor ETF. You are paying single-digit basis points over a plain index fund for the size and value lean.
- Same Morningstar U.S. Market Factor Tilt Index since the 2011 launch, and it stays glued to it. No strategy drift, no quiet methodology swap. One of the more faithful implementations in its peer group.
- Built to be boring under the hood: the index rebalances quarterly within market-weighted quadrants for lower turnover, and the adviser also states it seeks to minimize turnover and tax inefficiency.indexes.morningstar.comsec.gov
Worth knowing
- The tilt is mild by design. Filings describe small-cap and value stocks as weighted slightly more than cap weight, so this tracks the total market more closely than a dedicated small-value fund.sec.gov
- It trades thin next to the household-name index funds in its group. Limit orders and steering clear of the open and close are the usual habits with funds like this.
- Cheap is not cheapest. Straight cap-weighted value peers such as VONV (0.06%) and VYM (0.04%) charge a fraction of the fee, with simpler mandates and no size tilt.
TILT Holdings
- Stocks
- 1,917
- 27%
- NVDA
Geography
- United States97.13%
- Ireland1.02%
- Bermuda0.56%
- United Kingdom0.40%
- Switzerland0.35%
- Puerto Rico0.18%
- Uruguay0.09%
- Sweden0.07%
- 0.20%
TILT Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | TILT |
|---|---|
| Year to date | +14.4% |
| 1 month | −0.2% |
| 3 months | +3.6% |
| 1 year | +17.7% |
| 3 years | +21.6% |
| 5 years | +12.1% |
| 10 years | +13.7% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | TILT |
|---|---|---|
| 2026 YTD | +14.4% | |
| 2025 | +16.6% | |
| 2024 | +19.9% | |
| 2023 | +24.7% | |
| 2022 | −17.2% | |
| 2021 | +27.6% | |
| 2020 | +16.1% |
TILT in the news
ETF.net Research hasn’t filed on TILT yet — coverage lands here as it’s written.
TILT Dividends
- 1.06%
- $2.99
- $0.74 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 18, 2026 | Pays Sep 24, 2026 | $0.74 |
| Jun 18, 2026 | Jun 25, 2026 | $0.76 |
| Mar 20, 2026 | Mar 26, 2026 | $0.52 |
| Dec 19, 2025 | Dec 26, 2025 | $0.98 |
| Sep 19, 2025 | Sep 25, 2025 | $0.72 |
| Jun 20, 2025 | Jun 26, 2025 | $0.72 |
| Mar 21, 2025 | Mar 27, 2025 | $0.45 |
| Dec 20, 2024 | Dec 27, 2024 | $0.87 |
| Sep 20, 2024 | Sep 26, 2024 | $0.66 |
| Jun 21, 2024 | Jun 27, 2024 | $0.69 |
| Mar 15, 2024 | Mar 21, 2024 | $0.43 |
| Dec 15, 2023 | Dec 21, 2023 | $0.99 |
TILT Risk
- 13.5%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.07
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −24.1%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.02
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TILT Cost
- The middle half of US Multifactor funds
- Median 0.30%
35 of the 98 US Multifactor funds charge less.